According to the most recent analysis by Emergen Research, the size of the worldwide medical device reprocessing market reached USD 1.83 billion in 2021 and is anticipated to grow at a revenue CAGR of 13.2% during the projected period. Designing reusable medical equipment is still a more long-lasting solution to supply disruption. The sustainability and robustness of the supply chain have suffered as a result, even if many healthcare institutions have been successful in reducing supply chain costs. Instead of relying solely on an emergency solution, such as switching brands or altering workflow, reprocessing enables healthcare organisations to keep on with business as usual. Worldwide industries are still being impacted by the COVID-19 outbreak, and the rising amount of medical waste is a major concern.
Another important aspect driving the market’s revenue growth is the rising demand for medical device reprocessing. During an endoscopic examination, flexible endoscopes’ external surface and internal channels are exposed to human fluids and pollutants. Therefore, in order to stop infection, it is essential to reprocess this sophisticated and reusable equipment.
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Some major companies in the global market report include Stryker Corporation, Medline Industries, Johnson & Johnson Services, Inc., Innovative Health, Vanguard AG, SureTek Medical, Teleflex Incorporated, SteriPro, Medivators Inc., and The 3M Company.
In 2021, the segment that reprocessed medical devices had the biggest revenue share. Medical device reprocessing is the process of cleaning, sterilising, repairing, refurbishing, disinfecting, and reconditioning used medical devices. Medical devices are used in a variety of processes in the healthcare industry, including but not limited to diagnosis, treatment, monitoring, and improving the health and wellbeing of monitored individuals. The increasing usage of reprocessed products in various cardiac surgeries and blood pressure monitoring applications is the primary reason fueling the medical device reprocessing segment’s revenue growth.
In 2021, the hospitals sector had the biggest revenue share. In order to ensure that they adhere to the highest standards and lessen the risk of a superbug outbreak, hospitals are modernising their reprocessing procedures. Systems for reprocessing medical devices are increasingly dependable, high-quality equipment that help lower the risk of infection in healthcare facilities. All reprocessing, including endcaps that are disposable or releasable, makes reprocessing more efficient. Additionally, in addition to current monitoring techniques, the U.S. Food and Drug Administration (FDA) urged hospitals to implement quality assurance systems that include duodenoscope sample and culture.
Some Key Highlights From the Report:
- In terms of revenue share, North America’s market dominated in 2021. One of the main factors propelling the market’s revenue growth is significant expenditures in healthcare facilities. Additionally, the market’s expansion is being accelerated by the existence of important competitors. For instance, STERIS plc signed a binding contract in January 2021 to acquire Cantel Medical Corp. through a U.S. company.
- The act of deciding whether or not a person is accountable for their own conduct is referred to as “responsibility.” The agreement specifies that STERIS will buy Cantel in a cash and stock deal.
- Wassenburg Medical and Matachana made the decision to form a strategic partnership in June 2021 for the German market in order to assure ongoing product innovation with patient safety as the top priority. For upcoming installations, upkeep, and support for CSSD facilities in Germany, MATACHANA is WASSENBURG’s partner. The ASKLEPIOS Group’s potential endoscopic activities and divisions will also benefit from this partnership.
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Radical Features of the Medical Device Reprocessing Market Report:
- The report encompasses Medical Device Reprocessing market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements
- An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently
- Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies
- Supply chain analysis along with technological advancements offered in the report
- The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Medical Device Reprocessing industry
- Implementing reprocessing technology at a medical facility may present challenges that hinder market revenue growth. The facility must adhere to the rules and regulations set forth by governing bodies such as the Association for the Advancement of Medical Instrumentation in order to ensure the safety of patients and employees (AAMI).
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Emergen Research has segmented the global medical device reprocessing market on the basis of type, application, end-use, and region:
-
Type Outlook (Revenue, USD Billion; 2019-2030)
- Reprocessing Support and Services
- Reprocessing Medical Devices
-
Application Outlook (Revenue, USD Billion; 2019-2030)
- Cardiology
- Gastroenterology
- Gynecology
- Orthopedic
- General Surgery
- Others
-
End-use Outlook (Revenue, USD Billion; 2019-2030)
- Hospitals
- Ambulatory Surgical Centers
- Home Healthcare
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